More than half of the 22 oil tankers in Venezuela's fleet are so run down that they should be immediately repaired or taken out of service, according to an internal report from state-run oil company PDVSA that was shared exclusively with Reuters.
U.S. oil and gas company APA Corp said it was ramping down lean gas drilling in the Permian Basin due to weak prices, trimming some $100 million off the 2023 budget, and that it would return to its Alpine High development there when the market improves.
Saudi Arabia, the world's top oil exporter, has cut the price of its June flagship crude to Asian buyers for the first time in four months, following a plunge in refining margins.
Russia's federal budget revenues from oil and gas, the lifeblood of its economy, fell 64% in April from the year-earlier period and declined by 5.9% from March, the finance ministry said on Thursday, as a result of higher subsidies to oil refineries.
Some of U.S. oil major Chevron Corp's export earnings from its Venezuela operations are bolstering supplies of U.S. dollars in the South American country, three sources with knowledge of the matter told Reuters.